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South Sea Baubles has the following (incomplete) balance sheet and income statement

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South Sea Baubles has the following (incomplete) balance sheet and income statement.

Assume the firm pays taxes equal to 21% of taxable income.

 

BALANCE SHEET AT END OF YEAR(Figures in $ millions)

Assets 2018 2019 Liabilities and Shareholders' Equity 2018 2019

Current assets $106 $220  Current liabilities $82 $108 

Net fixed assets 960  1,060  Long-term debt 680  910 

 

INCOME STATEMENT, 2019

(Figures in $ millions)

Revenue $2,030 

Cost of goods sold 1,110 

Depreciation  430 

Interest expense  256 

 

f) What is cash provided by operations during 2019?